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tv   Asia Business Report  BBC News  July 4, 2019 1:30am-1:46am BST

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britain and china are embroiled in a growing row, over the treatment of protesters in hong kong. china's ambassador has been summoned to the foreign office in london, after warning britain not to interfere in its domestic affairs. china has accused london of supporting the demonstrators in hong kong, and accused it of fantasising about colonialism. more than a million people have been ordered to leave their homes in japan, after torrential rain, flooding and the danger of landslides. forecasters say the rain is set to continue. and this video of a volcano erupting on the italian island of stromboli is most watched online. a hiker was killed when he was hit by a flying rock. around seventy people were evacuated from the area. witnesses say they heard a huge boom as the volcano erupted, followed by a plume of smoke. that's all. stay with bbc world news. and making the news here in the uk:
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netflix announces it'll open a base for filming at world famous shepperton studios in surrey. now on bbc news, live to singapore for asia business report. july the fourth, fireworks, asian stocks follow the us higher as wall street hits record highs ahead of independence day. farming focus. why the agricultural sector will be a crucial part of tomorrow's indian budget. good morning and welcome to asia business report, live from singapore with me, mariko oi. let's begin with share markets because asian stocks get off on a positive note this morning, that is after american investors have been celebrating ahead of the july the fourth holiday. all three main
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indices are ending the day at record highs and as we report from new york, shares were boosted by hopes ofa york, shares were boosted by hopes of a us— china trade deal as well as a cutting interest rates. it was all a cutting interest rates. it was all a chair here in wall street as it hit record highs. it was a shortened trading day of the country will celebrate the july four holiday trading day of the country will celebrate thejuly four holiday on thursday. what has been driving markets all week is the truth in the trade war between the united states and china. us president donald trump has said he will put duties on hold on any new chinese goods as long as the two sides are negotiating. we are hearing from the white house at both the americans and chinese have been speaking by phone and will do so been speaking by phone and will do so again next week and are planning a face—to—face meeting. what happens next financial markets? in terms of direction, all eyes are going to be
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towards washington and the us federal reserve, america's central bank. if they decide to cut rates, that will be more chair for investors right here. earlier, i spoke to peter maguire from xm .com in sydney and asked if investors are right to be optimistic about this us- right to be optimistic about this us— china trade deal. right to be optimistic about this us- china trade deal. it could be because of it has been strong talk over the osaka weekend and that was last weekend, and you may see markets move up from here. it has been a nice fourth ofjuly present for us investors and the momentum is certainly taking it higher. let's see what happens over the following week or two with president trump and president xijinping. week or two with president trump and president xi jinping. but if it is making progress, of course, donald trump has started a similar trade will be the european union as well
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as india. exactly right and he has shifted his gaze across to other parts of the world and it will be interesting to see what he does as far as european cars and other markets and of course is just a sweeping change, he will attack market. their wills — there was talk it would be hitting the enemies steel. it is certainly an initiative is far as the president is concerned. the federal reserve is possibly going to cut rates? that will be the first major mover. if we do see the fed trim rates, that will add even more stimulus to the us economy. that will take the dow and the snp even higher. you could see this row continue over the next six months. are they not concerned about the slowing us economy? even though the slowing us economy? even though the trade war might be making progress, its starting to hurt. that's exactly right and that is why the fed might start to move and
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there could be to rate cuts over the rest of the six months of year. let's just see where the momentum and where the fed shifts. there is enough gunpowder to make it happen. focusing on trade is not involving donald trump. this is between south korea and japan. starting today, tokyois korea and japan. starting today, tokyo is a slapping export restrictions on its neighbour that will have an impact on south korea's electronic industry. our business reporter monica miller is in our studio. what's going on, monica? these two have had a frosty relationship for decades but things got heated up again back in november. that is when south korea's supreme court ordered japanese companies to pay for labour compensation during the second world war. it was for as much as $130,000 each. japan was not impressed with this move and they say that all of
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this move and they say that all of this had been dealt with during a 1965 treaty. earlier this week, tensions escalated again after tokyo announced that export restrictions on vital minerals for south korea's semiconductor industry, that is including a substance that is used for manufacturing display screens as well as cleaning up ships. japan is the world's biggest producer of such materials and starting today, karpany ‘s materials and starting today, karpa ny ‘s manufacturers will materials and starting today, karpany ‘s manufacturers will now need to file individual applications for south korea bound exports. under the new controls, japanese authorities can take as long as 90 days to decide if they want to approve these applications or not. with korean firms like samsung and lg heavily reliant on these materials, it is likely to have a major impact on their businesses. low belief, semiconductors make up
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20% of south korea's x box. —— globally. they are now looking to make these materials on their own. —— south korea's industry. make these materials on their own. -- south korea's industry. earlierl spoke to martin schultz about why japan has chosen now to make this move. the government has said it is losing trust in korea as a partner. that is a very serious issue. the big problem now is that the government is pulling the spat between the two countries that they can't easily solve on the political side and that is a serious matter because trust in business has been built up over a very long time between korea and japan so this is very disruptive. you have to imagine or wonder whether prime minister shinzo abe is taking a note from president trump's approach to trade tensions. to think that an offence
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japan, though? i don't think so. this is a major problem. the big difference between the us and japan is that the us is a major customer worldwide of asian supply chains, japanese, chinese, korean products. the products start injapan, then going through korea, china and to the us was not if japan starts to disrupt them, it has a big impact first but of course, as a supplier, companies are suffering on the japanese side as well so the long—term effect is probably much worse than the short political gain during election campaigns right now. let's turn our attention to india because a key focus of tomorrow's budget will be farmers. the agricultural sector is the country's biggest employer it makes up for half of the population. many rural
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areas have been hit hard by drought and crop failures. cooking vegeta bles and crop failures. cooking vegetables has never been this man's forte but he has had to resort to running a local meal delivery service he waits in vain for his annual yield of tomatoes and coriander. translation: i have a land but it is useless. in the last two or three years, rainfall has been inconsistent and the chemicals and pesticides we get are of bad quality for top farming was a profitable business but now we are losing money. india's 120 profitable business but now we are losing money. india's120 million farmers weekly borrow from banks to buy feeds and fertiliser but bad weather and many are failing to pay it back. cattle has died while plenty of other farmers have taken their own lives. after months of
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delayed drought, the severe monsoon rains have finally brought breath —— blizzard relief to farmers here but with reservoirs like this one all but empty, it will take more than a couple of downpours to reverse their fortu nes couple of downpours to reverse their fortunes and they will be hoping for a helping hand from new delhi. prime minister and arranger modi has promised to support farming families with an annual handout of 6000 rupees, around 80,000 us dollars. they're planning rupees, around 80,000 us dollars. they‘ re planning to rupees, around 80,000 us dollars. they're planning to double their income the next few years in the local village here, activists say only an upgrade to india's farming ecosystem such as modern irrigation will be a lasting help and it is a cultivation of young minds that will matter most. translation: our indian education system is faulty. compared to education systems of china and japan, a system isjust like bread and butter. we are not as advanced in technology. the government has failed to provide all this. it doesn't matter which party is in
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power. sweeping reforms may come too late for this man's family. if his farm's fortunes don't improve soon, catering will have to become his main business that although the government can't change the weather, he is hopeful that when it comes to indian agriculture, it can help change the economic climate. let's show you how asian markets are going before we go. japan's nick hayes and australia's all odds are up by about 0.5%. taking a cue from wall street, ending the day at record highs ahead of independent day celebrations. that is it for asia business report. thank you for watching. the baby boy of a heavily pregnant woman who was stabbed to death at her south london home has died, four days after being delivered by paramedics. kelly mary fauvrelle was eight months pregnant when she was killed.
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police have now released footage of a man seen running away from the scene. they say her family were woken by her screams. our correspondent sarah campbell reports. it'sjust after 3:00pm on saturday morning. cctv captured a man walking in the direction of kelly mary fauvrelle's house. who is he, and why, shortly afterwards, is the same man, according to the police, seen running along the street? minutes later, the emergency services were called to kelly's address. kelly was the victim of a very sustained and vicious attack which has taken place in her own bedroom. her bedroom was in the family home. it was on the ground floor. there were no witnesses to the incident. the family were alerted just before 3.30 in the morning by the sound of screams, which was clearly kelly. kelly was eight months pregnant
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when she was stabbed to death. her baby son, who the family named riley, survived for five days in hospital after paramedics had managed to deliver him by emergency c—section, but died this morning. outside their home, friends and neighbours have left soft toys and flowers in tribute to kelly and riley. i think everybody is so shocked, you know, it'sjust beyond. it is beyond. how somebody could do that to another human being, let alone an eight—month pregnant woman... forensics officers have spent the day examining the family home. two men, one aged 37 and another aged 29, were arrested at the weekend on suspicion of murder. both have been released. neither has been charged. kelly's bedroom was at the rear of the house and the police say there was no sign of forced entry, but that it was a hot night and windows may have been left open. by the time kelly's sister found her with fatal injuries, whoever had attacked her had already gone.
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in the commons today, the local mp said the killing showed that the government wasn't doing enough to tackle knife crime. if the government has been acting on knife crime, it isn't working. so what further action with the prime minister now take to stop the terrifying increase in the use of knives on our streets? we are taking action in a number of ways. we will continue to work and work with the mayor of london on the action that can be taken across london on this issue. many here are struggling to comprehend the stabbing of a heavily pregnant woman and the death of her baby. sarah campbell, bbc news, thornton heath. now on bbc news, sport today. hello, i'm tulsen tollett, and this is sport today, live from the bbc sport centre. coming up on this programme: the netherlands are through to the women's world cup final after an extra—time goal seals it against sweden.
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hosts england secure their place in the cricket world cup semi—finals after a convincing win over new zealand. and cori gauff has done it again. the 15—year—old american is through to the third round at wimbledon. hello and welcome to the programme, where we start with the footballing news that the netherlands are through to the women's world cup final after a 1—0 extra—time win over sweden. the european champions will now face holders usa in sunday's final, also in lyon. colm harrison reports. the netherlands may be european champions, but in playing in a world cup semi—final, they were breaking new ground. for sweden, though, it isa new ground. for sweden, though, it is a fairly well worn path. this is their fourth is a fairly well worn path. this is theirfourth time in is a fairly well worn path. this is their fourth time in the last four, and they were run back into thousand three. a goalless first half maybe should have been expected between two sides who like to leave it

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